Newmark Brokers Sale Of 267,280 SF Industrial Property In Fort Worth
11085 Harmon Road
Building Size
267,280 SF
Asset Type
Industrial
Closing
Jun 7, 2024
AI
The industrial property involved in the transaction is DFW Point35 — Building 1, located at 11085 Harmon Road in Fort Worth. The property spans 267,280 square feet and was constructed in 2023. It is currently fully leased to GITI Tire.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Seller: Zack Markwell - Stonemont Financial Group; Iron Point Partners
- Brokers: Caroline Wilson, Chloie Johnson Mercer, Dom Espinosa, Dustin Volz, Stephen Bailey & Zach Riebe - Newmark
Newmark facilitated the sale of the industrial property. The buyer's identity has not been revealed, while the seller was represented by a partnership between Stonemont Financial Group and Iron Point Partners. The presence of these key individuals and companies underscores the significant role each played in the successful completion of the transaction.
Players
Fort Worth Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93